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tax credits: The Inside Story on Energy Efficient Mortgages
- 03/11/10 11:02 AM
Although they represent a new concept to many prospective homeowners, energy efficient mortgages (EEMs) have actually been available for many years. In 1992, Congress conducted a pilot demonstration of EEMs in five states that would later expand into a national program (U.S. Department of Housing and Urban Development, 2009). *With EEMs, borrowers now have a way to finance cost effective, energy efficient measures as part of a single mortgage. Borrowers can also extend the debt-to-income qualifying ratios on loans. This in turn allows borrowers to qualify for a larger loan amount, making it possible for buyers to live in better … (5 comments)
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